The Pickled Possum, one of Neutral Bay’s most iconic late-night venues, is officially on the market following its recent move into receivership, and its future could go in many directions.
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Long known as a quirky institution on Military Road, the famed karaoke and piano bar is being offered to buyers for about $2.5 million, with interest already high from hospitality players and potential developers. The sale is being managed by HTL Property, with expressions of interest due by 7 August 2025 at 5PM.
The two-storey building sits on a 164sqm site and still holds a rare extended trading licence allowing operation until 2:00am, Monday to Saturday. Its legacy and location continue to appeal to a wide range of buyers, including restaurateurs, brewers, and spirits distillers, with the potential for it to be part of a future amalgamated development.
The bar’s name was inspired by real possums that would peer down from the door frames, hoping for scraps of carrots and lettuce from late-night patrons. But inside, the experience was anything but sleepy, with old photos plastered on the walls, $10 steak nights, and crowds singing around the piano until closing.
Over the years, The Pickled Possum attracted both locals and famous faces, including Janet Jackson and Chris Hemsworth. The venue peaked in the 1980s and was known for serving drinks from eskys and spontaneous singalongs by former mayors.
Owned and operated for four decades by John Oseckas and Margurite Smith, the couple transferred ownership in 2021 after purchasing it in 2002 for $913,000. The new owner, Robert Patterson, had lodged plans for a 78-room boarding house across several adjoining properties, but the proposal was refused by North Sydney Council in late 2024.
Now, with the site being offered through a structured campaign, its future remains open-ended. The current tenant is eager to stay and continue operating under a new lease if an investor-owner is secured.
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HTL Property agents Sam Handy, Andrew Jolliffe, and Ben Kennedy say the level of enquiry so far reflects both the venue’s nostalgic pull and its strong fundamentals, such as location, licence, and character.
Published 28-July-2025
